Following the rise in house prices in the South East over the last few years many people’s estates will now become subject to the inheritance tax regime upon death – whether they realise it or not. Here at Warners, we have the expertise to advise you on how best to structure and deal with your assets, both during your lifetime and after death (via your Will) to make the most of current tax saving possibilities.
Tax planning can also be undertaken through documents known as ‘deeds of variation’. If it is less than two years since the death of someone whose estate you have benefited from (either via their Will or via the rules of intestacy if there was no Will) you may be able to vary your entitlement so as to deal with the estate of the deceased person if a more tax efficient manner.
In addition to inheritance tax planning, we are also able to advise on other related taxes, such as capital gains tax and pre-owned assets tax. Not only do Warners have the expertise to guide individuals through the complexities of these various taxation regimes, but we are also equipped to advise those individuals who have business interests amongst their assets.
Warners also offer in house accounting services, covering the preparation of trust and estate accounts, the calculation of tax liabilities and the preparation and submission of tax returns for individuals, trusts and estates.
- Annual Tax on Enveloped Dwellings The Annual Tax on Enveloped Dwellings (ATED) came in to force on the 1 April 2013 and will see companies owning residential properties (‘dwellings’) worth over £2 million incurring an annual tax liability of £15,000 rising to £140,000 for the most valuable properties...
- Tax Evasion Leads to Prison and £500,000 Repayment Order Two company directors who lied to HM Revenue and Customs (HMRC) when under investigation for possible tax offences have been jailed for tax evasion and fraud. The pair ran a successful IT firm. When...